Dark Forest Capital Management LP Has $1.75 Million Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Dark Forest Capital Management LP grew its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 574.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,757 shares of the insurance provider's stock after purchasing an additional 15,977 shares during the quarter. Dark Forest Capital Management LP's holdings in Selective Insurance Group were worth $1,754,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Barclays PLC lifted its holdings in Selective Insurance Group by 171.6% during the 3rd quarter. Barclays PLC now owns 114,790 shares of the insurance provider's stock worth $10,711,000 after buying an additional 72,530 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Selective Insurance Group by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 405,153 shares of the insurance provider's stock worth $37,801,000 after purchasing an additional 7,563 shares during the period. Franklin Resources Inc. increased its stake in Selective Insurance Group by 38.4% during the third quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider's stock valued at $603,000 after purchasing an additional 1,747 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Selective Insurance Group by 51.9% during the third quarter. Sanctuary Advisors LLC now owns 4,211 shares of the insurance provider's stock worth $412,000 after purchasing an additional 1,438 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Selective Insurance Group by 151.9% in the 4th quarter. Sei Investments Co. now owns 83,562 shares of the insurance provider's stock valued at $7,815,000 after buying an additional 50,386 shares during the period. Institutional investors own 82.88% of the company's stock.

Selective Insurance Group Stock Performance

SIGI stock traded up $0.30 during trading on Monday, reaching $87.87. 84,709 shares of the company's stock were exchanged, compared to its average volume of 383,913. Selective Insurance Group, Inc. has a 1-year low of $78.13 and a 1-year high of $103.60. The firm has a market cap of $5.34 billion, a PE ratio of 27.23 and a beta of 0.45. The company's fifty day moving average price is $86.97 and its 200-day moving average price is $91.31. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.89 by ($0.13). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the company earned $1.33 EPS. On average, research analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be given a $0.38 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.73%. Selective Insurance Group's dividend payout ratio (DPR) is 41.42%.

Analyst Upgrades and Downgrades

SIGI has been the subject of several recent research reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Morgan Stanley lowered their price objective on Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. Finally, JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $95.17.

Insider Buying and Selling at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,352 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $87.06, for a total transaction of $117,705.12. Following the completion of the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,388,258.76. This trade represents a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.